Spanish property and will, some assets in UK

tabitha1111

Hi I wonder if someone can point me in the right direction please. A relative sadly passed away a couple of months ago. There is a surviving  spouse, my relative lived in the uk - there is property in Spain covered by a Spanish Will and there are some savings in the uk in the sole name of my relative but no uk will. The uk bank have said they need probate or LOA to distribute the funds to the spouse as over £5k. So the property in Spain will be covered by the Spanish will and Spanish IHT but what happens in the uk? Do we apply for LOA to cover the savings in the bank in the uk only or does the Spanish property still need to be declared even though covered by the will in Spain? 

Thank you so much 

Keep_pedalling

Which bank is this and how much is in the account?

tabitha1111

Hi thanks it is monzo and about £14k in her account 

Hoenir

In the absence of a UK will. The assets will be subject to and governed by Spanish Law. 

Keep_pedalling

Hoenir said:

In the absence of a UK will. The assets will be subject to and governed by Spanish Law. 

Without a will the UK assets will be governed by UK intestacy rules so will pass to the spouse tax free. It is unfortunate that the cash is held in one of the few banks that require LOA for such low levels of savings. 

tabitha1111

Keep_pedalling said:

Hoenir said:

In the absence of a UK will. The assets will be subject to and governed by Spanish Law. 

Without a will the UK assets will be governed by UK intestacy rules so will pass to the spouse tax free. It is unfortunate that the cash is held in one of the few banks that require LOA for such low levels of savings. 

Thanks - yes it is very low unfortunately- so we just need to apply for LOA for the assets in the uk - the Spanish assets are not included, is that correct? 

Keep_pedalling

tabitha1111 said:

Keep_pedalling said:

Hoenir said:

In the absence of a UK will. The assets will be subject to and governed by Spanish Law. 

Without a will the UK assets will be governed by UK intestacy rules so will pass to the spouse tax free. It is unfortunate that the cash is held in one of the few banks that require LOA for such low levels of savings. 

Thanks - yes it is very low unfortunately- so we just need to apply for LOA for the assets in the uk - the Spanish assets are not included, is that correct? 

As she was a UK resident the Spanish property needs to be included in the numbers used for probate and could possibly require an IHT return. What is the value of the Spanish property and who inherits it?

tabitha1111

Keep_pedalling said:

tabitha1111 said:

Keep_pedalling said:

Hoenir said:

In the absence of a UK will. The assets will be subject to and governed by Spanish Law. 

Without a will the UK assets will be governed by UK intestacy rules so will pass to the spouse tax free. It is unfortunate that the cash is held in one of the few banks that require LOA for such low levels of savings. 

Thanks - yes it is very low unfortunately- so we just need to apply for LOA for the assets in the uk - the Spanish assets are not included, is that correct? 

As she was a UK resident the Spanish property needs to be included in the numbers used for probate and could possibly require an IHT return. What is the value of the Spanish property and who inherits it?

Hi -thank you - value of the Spanish property is approx £350k and her spouse is the only beneficiary